Buy a Property in Spain with guarantees:
Some guide lines from one of our affiliates.
Buying or selling a property in Spain involves a lot of legal paperwork which needs to be carefully checked.
For this reason, Spanish Best Homes recommends you hire the service of a reputable solicitor.
Our affiliates, REUTERS SOLICITORS (https://www.reuterssolicitors.com/), is a qualified Law Firm which specializes in giving legal advice to foreign clients.
They ensure that any transaction taking place in Spain is carried out according to Spanish Laws.
CONVEYANCING
Reuters Solicitors (RS) conveyancing service includes the following:
1.- Deposit contract/purchase contract or "Arras".
2.- NIE certificate.
3.- Power of Attorney (POA).
4.- Land Registry Search.
5.- Spanish Bank account.
6.- Council Tax, utilities and fees.
7.- Energy Efficiency Certificate.
8.- Habitation Certificate (Licencia de 1ª Ocupación).
9.- Costs of buying a property in Spain.
10.- Notary Signing.
11.- Title deeds.
12.- Spanish Mortgage.
1.- Deposit contract/purchase contract or "Arras".
Once you have found the property of your dreams through Spanish Best Homes, you will sign a reservation contract. Reuters Solicitors can solve your doubts and questions and give you legal advice before signing.
2.- NIE certificate.
NIE is a fiscal number for non residents. It will be your Spanish tax identification number. The foreign identity number (NIE) is granted by the Ministry of the Interior.
It is mandatory to obtain a NIE when purchasing a property, or any other transaction in Spain, such as: selling a property, starting a business, applying for a mortgage, opening a bank account, etc.
Reuters Solicitors can assist you in obtaining your NIE certificates by being present with you to make the application at the Police Office (one of their solicitors will accompany you) or the solicitor can do it on your behalf if you give us Power of Attorney which is more than recommended.
3.- Power of Attorney (POA)
Many clients are not able to be present on the day of the signing/completion day, so the best option is to grant us a Power of Attorney so that RS member can act on your behalf.
The POA can be done either in Spain or in your own country:
• If you do it in Spain: A member of Reuters Solicitor´s team will accompany you to the Notary´s office to signing it. A translator will be also necessary so as to translate the document into your mother tongue.
• If you are in your country: Reuters Solicitors will mail you a draft POA which will follow Spanish Law so you can legalize it in your country by making an appointment at your local Notary Public. RS will also mail you all relevant information and instructions for your knowledge.
Once the POA is signed by the local Notary, the POA document will need to be legalized with the Hague Apostille at the Foreigh and Common Office (FCO) so that it can be used in Spain. Your local Notary Public will assist you with this matter.
4.- Land Registry Search
Reuters Solicitors´ team will conduct a Land Registry check to ensure that the property matches the registry of the property. RS will also make sure that all transactions showing on the title deeds are properly and accurately recorded at the Land Registry.
RS will verify that the vendors are the legal owners of the property and if the property description on the Land Registry Report matches the current estate of the property.
The Land Registry certifies whether or not there are charges, mortgages, debts or embargos against the property.
5.- Spanish Bank account
If it is necessary, RS will open a Spanish bank account as part of our conveyancing package where you will make payments of bills, taxes by direct debit. The account will include internet banking in English and a debit card.
6.- Council Tax, utilities and fees
RS will check will check that utilities (electricity, water, gas, etc) and taxes are paid and that there are no outstanding debts before the signing. RS will change all utilities contracts after completion so that there are on your name, and order direct debits to your Spanish bank account so they get paid monthly.
7.- Energy Efficiency Certificate
The Energy Efficiency Certificate (EEC) is a certificate which shows how efficient the property is. Since 2013, it is mandatory that the property has a valid and updated EEC issued by a qualified professional with the legal registration at the Ministry of Industry.
Reuters Solicitors will ensure that this document is in place as part of our legal service.
8.- Habitation Certificate (Licencia de 1ª Ocupación)
Reuters Solicitors will ensure that the Habilitation Certificate Document has been granted at the Town Hall and Authorities.
This certificate is required by utility companies require in order to set up new contracts after completion.
9.- Costs of buying a property in Spain
Before completion, Reuters Solicitors will inform about the total cost of the process by sending you a Completion Statement which will detail all associated costs of the process.
The cost of the process will vary depending on the purchase price. Just as an example:
• Notary fees: €500 – €700
• Land Registry: €300 – €500
• Property Transfer Tax: It is called "Impuesto de Transmisiones Patrimoniales (ITP)". This tax varies depending of the region of Spain where the property is located at:
This per cent is applicable to the purchase price.
If the seller is a non-resident, a sum equal to 3% of the purchase price is deducted and paid to the tax authorities. This is to ensure that the vendor does not leave Spain with unpaid taxes.
10.- Notary Signing
Once everything is prepared for the signing, an appointment at the Notary will be done. A member of Reuters Solicitor´s team will attend the notary, either with you or with the Power of Attorney.
11.- Title deeds
Once the deeds are signed, RS will pay the Taxes (ITP) and the purchase deeds will be sent to the Land Registry for it legal inscription.
RS will provide the original copies of all the legal documentation to you once the process is finished.
12.- Spanish Mortgage
If you need to finance the purchase of your property, RS will assist you with this matter.
Property for sale in Spain: Costa Calida, Costa Blanca & Almeria
Spanish Best Homes
0034 648 504 971
0034 968 80 84 25
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